US STOCKS-S&P nears record as Fed support boosts Wall Street

NEW YORK, Sept 18 (Reuters) - U.S. stocks were higher in
morning trading on Thursday, with the S&P 500 brushing against
resistance at a record peak, a day after the U.S. Federal
Reserve renewed its commitment to keeping interest rates low.

The Fed said Wednesday at the conclusion of a two-day policy
meeting it would keep interest rates near zero for a
"considerable time," language supportive of equities which had
been expected by some to be dropped from the statement.

The Dow industrials closed Wednesday at a record high with
the S&P coming within a point of its intraday record.

"The Dow made an all-time high and then pulled back which is
typical of the way the market has been making new records, and
that's likely to be the case with the S&P 500," said Bruce Zaro,
chief technical strategist at Delta Global Asset Management in
Boston.

"Today the S&P could make a nominal (intraday) new high,
though I don't think it is important that it closes at a
record."

The Dow Jones industrial average was rising 58.22
points, or 0.34 percent, to 17,215.07, the S&P 500 was
gaining 6.13 points, or 0.31 percent, to 2,007.7 and the Nasdaq
Composite was adding 19.01 points, or 0.42 percent, to
4,581.20.

The largest percentage gainer on the New York Stock Exchange
was Penn West Petroleum, up 11.54 percent, while the
largest decliner was Pier 1 Imports, down 17.57 percent
a day after it slashed its full-year earnings forecast.
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